Fund launches & closures

German manager launches third absolute return fund

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Munich-based investment manager, Assenagon Credit Management, is launching its latest absolute return UCITS fund.

It is launching an unnamed capital structure arbitrage fund, expected to launch in June, with the aim of attracting €250 million ($354.7 million) of assets within six months. This is the third fund from Assenagon Credit Management.

Assenagon's Dr Jochen Felseneimer

All the funds use hedge fund strategies within the UCITS wrapper and are domiciled in Luxembourg.

Dr Jochen Felseneimer, fund manager for Assenagon, says: “The new fund will take advantage of market anomalies between equities and credit, cash, loans and bonds.